Could This Hudson Valley Retailer Be The Next Chain To Close?
It's no secret, this retailer's sales are slipping.
In the wake of multiple national retailers closing for good, another company might be following suit. According to Business Insider, analysts warn that Victoria's Secret could be reaching the end.
Victoria's Secret, owned by L Brands, saw a 7% drop in sales in June. L Brand shares' values dropped by 45% already in 2018. Victoria's Secret made up 47% of L Brands' revenue in the first quarter of 2018, according to Business Insider.
Victoria's Secret just had their semi-annual sale in June. Business Insider reports that the event showed low sales, so the company extended the semi-annual sale and dropped prices even lower. I will admit, when I walked past Victoria's Secret in early July, I was surprised to see the sale was still going on.
Analysts believe the brand is broken, according to the article. Victoria's Secret has often been cited as not being inclusive. Victoria's Secret does not sell items above a size XL or larger than a DDD cup size bra. The annual fashion show by Victoria's Secret never features plus-size models, nor do any of their campaigns or marketing. According to Business Insider, the average women's size is a 14.
Whereas competing brands, such as Aerie, have embraced a variety of women. They've launched campaigns featuring models with illnesses and disabilities and stopped photoshopping models. However, it is worth noting that Aerie does not sell larger than a DDD cup size bra.
Victoria's Secret has multiple Hudson Valley locations including Poughkeepsie, Middletown, White Plains, Nyack, and Nanuet.